Telogica Converts 46.4 Lakh Warrants into Equity Shares, Boosts Paid-up Capital

Telogica Limited has announced a significant corporate action involving the conversion of convertible warrants into equity shares. The Board of Directors has approved the conversion of 46,40,290 warrants into an equal number of equity shares, marking a notable change in the company's capital structure.

Key Details of the Conversion

The conversion of warrants into equity shares has been executed at a price of Rs. 8.00 per share, which includes a premium of Rs. 3.00 per share. This move has resulted in the company receiving Rs. 3.71 crore from the warrant holders. The allotment involves three key entities:

Allottee	Shares Allotted	Amount Received (Rs.)
Techmagix IT Solutions (India) Private Limited	10,00,000	80,00,000.00
Rajeev Reddy Yeduguru	10,00,000	80,00,000.00
Logiclinx Corporation	26,40,290	2,11,22,320.00
Total	46,40,290	3,71,22,320.00

Impact on Share Capital

Following this allotment, Telogica's paid-up equity share capital will see a significant increase:

Pre-conversion: 4,78,35,786 equity shares of Rs. 5.00 each, amounting to Rs. 23,91,78,930.00
Post-conversion: 5,24,76,076 equity shares of Rs. 5.00 each, amounting to Rs. 26,23,80,380.00

This represents an increase of approximately 9.7% in the number of outstanding shares.

Shareholding Changes

The conversion has led to notable changes in the shareholding pattern of the company:

Investor	Pre-Issue Shareholding	Post-Issue Shareholding
Techmagix IT Solutions (India) Private Limited	1.67%	3.43%
Rajeev Reddy Yeduguru	2.26%	3.96%
Logiclinx Corporation	6.40%	10.87%

Additional Information

The newly allotted equity shares will rank pari-passu with the existing equity shares of the company.
The company will apply for listing and trading approval for these shares with the stock exchange.
The allotted shares will be under lock-in as per SEBI ICDR Regulations.
Warrant holders have 18 months from the date of allotment of warrants (May 11, 2024) to convert their remaining warrants by paying the balance amount.

This corporate action demonstrates Telogica's efforts to strengthen its capital base and potentially fund its growth initiatives. Investors and market participants will be keen to observe how this capital infusion impacts the company's future operations and financial performance.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.96%	+8.33%	+3.06%	+29.46%	-45.26%	+72.38%

Telogica Limited , a company listed on the Bombay Stock Exchange (BSE), has taken a significant step in restructuring its shareholding pattern. The company has submitted an application to the BSE for the reclassification of 14 individuals from the 'Promoter category' to the 'Public category'. This move, involving a total of 10,99,281 shares representing 4.60% of the company's equity, marks a notable shift in the company's ownership structure.

Key Details of the Reclassification

The application, submitted on December 19, 2023, follows a series of corporate actions and share transactions. Here's a breakdown of the key individuals involved and their shareholdings:

Name	Shares Held	% Holding
Amulya Reddy Gangavaram	5,30,000	2.22
Chilakapati Peda Bapulu	2,24,329	0.94
Shailaja Gangavaram	1,50,167	0.63
Katpally Prashanthi Reddy	54,668	0.23
Veera Baba Reddy Pendru	45,117	0.19
Venkatarami Reddi Gorla	39,636	0.17
Others (8 individuals)	55,364	0.22
Total	10,99,281	4.60

Recent Share Transactions

The reclassification application comes in the wake of several significant share transactions:

Chilakapati Peda Bapulu sold 50,000 shares on September 5, 2024, followed by another 1,74,329 shares on September 9, 2024.
The shares of Amulya Reddy Gangavaram and Rama Manohar Reddy Gangavaram were acquired by Srinivasa Rao Mandava through a Share Purchase Agreement dated August 4, 2022.

Regulatory Compliance and Disclosure

In its disclosure, Telogica Limited acknowledged a delay in reporting these changes as required by Regulation 31A(8)(c) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company attributed this delay to a lack of awareness of specific regulatory requirements and assured that there was no mala-fide intention behind the oversight.

D. Venkateswara Rao, Whole-Time Director & CFO of Telogica Limited, signed the disclosure, expressing regret for the delayed reporting and committing to strengthen the company's compliance framework to prevent such occurrences in the future.

Implications and Next Steps

This reclassification, if approved by the BSE, will result in a significant reduction of the promoter group's shareholding in Telogica Limited. It reflects a shift in the company's ownership structure and could potentially impact its governance and decision-making processes.

Investors and market watchers will be keenly observing the BSE's decision on this application and its potential implications for Telogica Limited's stock performance and corporate governance structure.